Why choose Business Central in 2022?
- What is Business Central?
- Why is Business Central relevant in 2022?
The correct and full name is actually Microsoft Dynamics 365 Business Central, but for convenience, most people only use the last part of the name 'Business Central' or the abbreviation BC. Business Central has previously been known as Dynamics NAV and Navision and is an all-in-one ERP application, for administration and streamlining of the company's business processes. In short, the purpose of implementing a solution like Business Central is to make it easier and more manageable to run your business.
The comprehensive business functionality in Business Central helps you connect a wide range of business areas across the company, such as inventory management, financial management, HR, sales and logistics, ensuring that you achieve efficient and smooth operation and can manage your business efficiently and are ensured business continuity in the day-to-day operations of your company.
At a time when there are a large number of financial systems which are both free and easily available online and where new systems are constantly emerging a business owner might ask himself to what extent it makes sense to choose a solution like Business Central. But it actually makes sense, because Business Central is much more than just an accounting system.
Business Central is an extensively tried and tested and a comprehensive ERP system that delivers all the functionality you need, regardless of the size of your business. With Business Central, you will also be able to consolidate several unconnected systems into a single unified system, while you can increase productivity and create a comprehensive overview of the business processes in your company and via the built-in integration to Power Platform and Microsoft 365 you can automate a wide range of processes and workflows and gain insight into your data. The application can be easily scaled and adapted to your business needs and the size of your company, which means that your company can grow smoothly -also across borders.
With an ERP system like Business Central, you can manage all your business activities from a single system. But an ERP system is much more than just a tool to manage the various aspects and business processes of the company, ERP strengthens and streamlines the efforts of human resources, as all business activities can be managed from a single platform. And at a time when new demands are constantly being placed on companies to be at the forefront of staying competitive and where business dynamics have become enormously extensive and complicated, companies are forced to implement a wide range of activities to improve their business processes and workflows. With a central business administration system, the company can handle its transactions, the day-to-day operations, services and so on, while closely monitoring sales and sales forecasts.
Many people probably associate ERP software with large investments and expensive implementation and upgrade projects, but no matter the size of the business, you need ERP and thanks to new licensing models and online hosting, it is actually not at all as expensive as most people think. Anyone can join. With an ERP solution, you have the opportunity to analyze all aspects of the company and then you avoid a lot of cumbersome and time-consuming double entry, which means that your employees save a lot of time and that the risk of errors is minimized. And today, ERP systems can be acquired at prices all companies can afford, regardless of size.
Microsoft Dynamics 365 Business Central is a cloud-based ERP solution, which in short means that you achieve a wide range of benefits in terms of infrastructure and IT costs compared to locally hosted solutions.
By implementing Business Central, you gain greater control over your company's cash flow while keeping costs down. The advantage of ERP in the cloud is that the cost of investing in infrastructure is minimal and that you largely avoid upgrade or maintenance costs. This means, among other things, that you avoid large and expensive upgrade projects.
As Business Central is licensed via a subscription-based monthly fixed-price approach, the need for significant prepayment is eliminated, ensuring that you always know your operating costs and that expenses are predictable and transparent in the future.
Business Central was launched in 2018, but the story behind Business Central goes back much further. Business Central's code base is based on the ERP solution Dynamics NAV, which Microsoft bought in 2002, then under the name Navision, whose history dates back to 1984. This means that with Business Central you choose a system where the functionality has been continuously improved and adapted by thousands of users and companies for more than 40 years.
As ERP systems increasingly deliver end-to-end functionality, they are also increasingly becoming a target for hackers. Therefore, the security around and in your ERP system is an important countermeasure to ensure the security of your business.
By implementing Business Central, your company achieves a high level of security. Business Central allows you, among other things, to create different security roles and specific degrees of responsibility for the individual employee, which helps you protect your company's and your customers' data. In addition, Business Central has a number of built-in options and functions that help ensure that your data is stored securely and backed up. You can also improve the security of your application by including functionality such as data encryption, authorization, authentication and auditing. You will also have the option to customize a number of settings so that your data is collected and complies with local regulations and rules if you do business internationally.
Dynamics 365 Business Central has been developed with integration in mind. Therefore, it is easy to integrate with other Microsoft business apps, such as Power BI and Sales, which, not least for companies that already use other Microsoft enterprise applications, such as Microsoft 365, is a huge advantage.
In addition, Business Central already has Microsoft Power BI dashboards built-in as a standard feature. If you want to further customize your Business Central solution to meet specific business requirements, you can download and implement Extensions directly from Microsoft AppSource or get your Microsoft Dynamics partner to develop an extension with the functionality you need.
Dynamics 365 Business Central is a flexible and flexible business solution that is easy to adapt to the changing needs of the company. You can easily connect Extensions and apps to the solution, which adds the extra functionality you need to run your business and live up to the ever-increasing business requirements. Business Central is also priced via a subscription model, where you pay a monthly license fee per. user. This means that you can adjust the number of users from month to month. This means that as your business grows, you can easily scale the solution's functionality and number of users to accompany this growth and that your ERP system does not stand in the way of the company's opportunities and business potential.
The global Corona pandemic has greatly contributed to accelerating an ever-growing hybrid work trend, with business professionals and decision makers expecting access to data and operational flexibility to manage the business from anywhere and from any device.
As Dynamics 365 Business Central is a cloud solution, it is possible for you and your employees to quickly access the company's data and you can practically manage the company from anywhere, from any device and at any time. In a world where adaptability is a competitive parameter and teleworking has largely become the new norm, the flexibility of Business Central is a crucial factor and one of the reasons why it is a solution you should consider when choosing an ERP solution.
One of the big differences between Business Central and its predecessor Dynamics NAV is that all extra functionality and special adaptations are made as Extensions, which are located outside the solution itself. This means that no modifications are made to the solution's basic code and that it is therefore much easier and not least cheaper to upgrade Business Central to the latest version than it was with Dynamics NAV.
In addition, Business Central online is updated completely automatically. Your ERP solution is therefore always updated to the latest version and can therefore serve as the foundation for the company's growth acceleration.
The last update for Business Central was released in October 2021 as part of the comprehensive Dynamics 365 upgrade wave called Dynamics 365 2021 Release Wave 2. These upgrades come twice a year, typically in April and October, and we are for obvious reasons looking forward to the upcoming Business Central 2022 Release Wave 1 update, which you will of course also be able to read more about here on activebs.com.
Although Business Central is actually an ERP solution, the solution also delivers functionality that helps you strengthen the connection with your customers and optimize the customer experience. The CRM functionality in Business Central allows you to gain control over your customer interaction and gain insight into the entire company's sales cycle.
Business Central and Dynamics 365 Sales (Microsoft's CRM application) also have pre-built integration options, so you can get all the ERP functionality you need, as well as the full range of sales and customer management functions.